Las Vegas Sands Remains Constructive As Recovery Underway, Analyst Says

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  • Morgan Stanley analyst Stephen W.Grambling reiterated an Overweight rating on the shares of Las Vegas Sands Corp LVS and a price target of $53.
  • LVS reported Q4 results after the market close yesterday, beating the analyst’s expectations on a hold-adjusted basis.
  • The company also outlined $3.8 billion in concession-related spend over the next 10 years, with $2.7 billion allocated to capital projects and $1.1 billion to operating commitments, the analyst cited.
  • The management commentary on the conference call remained constructive, said the analyst. Singapore continued to build, and the Macau recovery is underway, led by higher spend/visitor.
  • LVS is now generating positive EBITDA in Macau and management highlighted visitation trends in their properties are outpacing the market, cited the analyst.
  • Importantly, if stronger spend / visitor holds as visitation comes back, flow through could push margins higher than pre-COVID, added the analyst.
  • The analyst specified that when combined with sustained momentum in Singapore, fundamentals are trending toward the Bull case within the risk-reward framework.
  • Also ReadLas Vegas Sands Options Traders Betting On Stock Rising This Much By Next Friday
  • Price Action: LVS shares are trading higher by 4.87% at $57.70 on the last check Thursday.
  • Photo Via Company
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